ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Shares Gap Down – Here’s Why

Shares of ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) gapped down before the market opened on Thursday . The stock had previously closed at $53.41, but opened at $51.94. ProShares UltraPro Short S&P 500 shares last traded at $51.9080, with a volume of 1,204,529 shares.

ProShares UltraPro Short S&P 500 Trading Down 3.8%

The stock has a 50-day moving average price of $52.28 and a 200 day moving average price of $59.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC acquired a new stake in shares of ProShares UltraPro Short S&P 500 in the 2nd quarter valued at approximately $46,000. GW Henssler & Associates Ltd. increased its stake in ProShares UltraPro Short S&P 500 by 31.5% in the 1st quarter. GW Henssler & Associates Ltd. now owns 48,185 shares of the exchange traded fund’s stock valued at $1,230,000 after purchasing an additional 11,553 shares in the last quarter. Beacon Financial Group acquired a new stake in ProShares UltraPro Short S&P 500 in the 2nd quarter valued at about $371,000. DRW Securities LLC purchased a new position in shares of ProShares UltraPro Short S&P 500 during the 1st quarter worth approximately $929,000. Finally, Flow Traders U.S. LLC purchased a new position in ProShares UltraPro Short S&P 500 during the first quarter worth $840,000.

ProShares UltraPro Short S&P 500 Company Profile

The Fund seeks daily investment results that correspond to triple the inverse of the daily performance of the Index. The Fund invests in derivatives that it believes should have similar daily return characteristics as triple the inverse of the daily performance of the Index.